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SINGAPORE, Jan 23 (AFP): Singapore's Temasek Holdings confirmed today that it was part of a group that purchased the shares of Thai Prime Minister Thaksin Shinawatra's family in a telecommunications giant.
A group led by Temasek and Siam Commercial Bank (SCB) "reached an agreement with the Shinawatra and Damapong families to acquire their 1,487.7 million shares or 49.6 per cent stake in Shin Corporation Pcl (Shin Corp)," a press statement said.
"The total consideration of the purchase will be 73.3 billion baht (1.88 billion dollars), representing 49.25 baht per share," the state-linked Singapore investment firm added.
Under the agreement, Cedar Holdings Ltd and Aspen Holdings Ltd, both Thai-incorporated companies, have acquired 1,158.5 million shares and 329.2 million shares of Shin Corp, respectively.
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